Google’s financial results for the first quarter of 2015 didn’t quite live up to analyst expectations when the company published them after the close of the stock market today. The Mountain View-based search giant reported revenues of $17.26 billion, which was $240 million below the consensus estimate of analysts surveyed by Thomson Reuters. That’s still a 12 percent increase year-over-year, compared to $15.42 billion during the first quarter of 2014.
The firm reported earnings of $6.57 a share, which was 3 cents below analyst expectations, but showed slight growth over the same period in 2014, when Google reported earnings of $6.27 a share. That translated into a net profit of $4.53 billion, up from almost $4.3 billion during the year-ago quarter.
Like many other companies, Google’s financial results were negatively impacted by foreign exchange rates. Had exchange rates remained constant from the first quarter of 2014 to the first quarter of 2015, the company would have reported $795 million more in revenue.
Serving ads continues to drive the overwhelming majority of Google’s business, making up 90 percent of the company’s total revenue in the past quarter. Paid clicks on ads served through Google-operated websites rose 25 percent year-over-year, but the cost per click of those advertisements fell by 13 percent over the year-ago quarter.
Google’s detailed financial statements are embedded below.